U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-QSB
(Mark One)
[x] Quarterly Report under Section 13 or 15(d) of the Securities Exchange
Act of
1934
For the quarterly period ended September 30, 1999
- -------------------------------------------------------------------------
- -------
[ ] Transition Report under Section 13 or 15(d)of the Exchange Act For
the
Transition Period from ________ to ___________
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Commission File Number: 000-27035
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ALD SERVICES, INC
- -------------------------------------------------------------------------
(Exact name of small business issuer as specified in its charter)
Nevada 88-0408274
- ------------------------------- ---------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification
No.)
8787 Washburn Road
Las Vegas, Nevada 89129
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(Address of principal executive offices)
(702) 683-7896
- -------------------------------------------------------------------------
(Issuer's telephone number)
- -------------------------------------------------------------------------
Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act of 1934 during the past 12 months
(or such shorter period that the registrant was required to file such reports),
and (2)has been subject to such filing requirements for the past 90 days.
Yes [ ] No
[X]
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDING DURING THE PRECEDING FIVE YEARS
Check whether the Registrant filed all documents and reports required to
be filed by Section 12, 13 or 15(d) of the Exchange Act after the
distribution of securities under a plan confirmed by a court.
Yes [ ] No [ ]
1
<PAGE>
The Registrant has 2,106,000 shares of Common Stock, $0.001 par value per
share, issued and outstanding as of September 30, 1999. The Registrant has no
Preferred Stock issued nor outstanding as of September 30, 1999.
Traditional Small Business Disclosure Format (check one) Yes [ ] No [X]
Copies of Communications Sent to:
Brain G. Dvorak, Esq.
Dvorak & Associates
500 N. Rainbow, Suite 300
Las Vegas, NV 89107
Tel: (702) 794-4992 - Fax: (702) 794-4532
2
<PAGE>
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements................................. 3
Balance Sheet (unaudited)............................ 4-5
Statements of Operations (unaudited)................. 6
Statements of Cash Flows (unaudited)................. 7
Notes to Financial Statements........................ 8-12
Item 2. Management's Discussion and Analysis of Plan
of Operation........................................ 13
PART II. OTHER INFORMATION
Item 1. Legal Proceedings.................................... 17
Item 2. Changes in Securities and Use of Proceeds............ 17
Item 3. Defaults upon Senior Securities...................... 17
Item 4. Submission of Matters to a Vote
of Security Holders.................................. 17
Item 5. Other Information..................................... 17
Item 6. Exhibits and Reports on Form 8-K...................... 17
Signatures...................................................... 18
PART I. FINANCIAL INFORMATION
ITEM 1. Financial Statements
(Financial Statements Commence on Following Page)
3
<PAGE>
ALD SERVICES, INC.
(A Development Stage Company)
BALANCE SHEET
<TABLE>
<CAPTION>
ASSETS
Unaudited Audited
September 30, 1999 June 30, 1999
------------------- -------------
<S> <C> <C>
CURRENT ASSETS
Cash $ 0.00 $ 740.00
Subscriptions Receivable 0.00 0.00
Other Current Assets 0.00 0.00
------------ -----------
Total Current Assets 0.00 740.00
PROPERTY AND EQUIPMENT
Land 10,000.00 10,000.00
----------- -----------
Total Property and
Equipment 10,000.00 10,000.00
OTHER ASSETS
Organization Costs
net of Amortization 245.00 260.00
----------- -----------
TOTAL ASSETS 10,245.00 $ 11,000.00
=========== ===========
</TABLE>
See accompanying notes to financial statements
4
<PAGE>
ALD Services, Inc.
(A Development Stage Company)
Unaudited
BALANCE SHEET
<TABLE>
<CAPTION>
LIABILITIES AND STOCKHOLDERS' EQUITY
Unaudited Audited
Sept 30, 1999 June 30, 1999
------------- -------------
<S> <C> <C>
CURRENT LIABILITIES $ 0.00 $ 0.00
TOTAL CURRENT LIABILITIES: $ 0.00 $ 0.00
OTHER LIABILITIES
Due to Shareholder 10,150.00 10,150.00
----------- -----------
Total Other Liabilities 10,150.00 10,150.00
----------- -----------
Total Liabilities 10,150.00 10,150.00
EQUITY
Capital Stock 2,106.00 2,106.00
Additional Paid in Capital 1,024.00 1,024.00
Donated Capital 295.00 295.00
Retained Earnings or (Deficit
Accumulated during
development stage) (3,330.00) (2,575.00)
----------- ------------
Total Stockholders' Equity 95.00 850.00
- ----------------------------------------------------------------------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY: $ 10,245.00 $ 11,000.00
=========== ===========
</TABLE>
See accompanying notes to financial statements
5
<PAGE>
ALD Services, Inc.
(A Development Stage Company)
STATEMENT OF OPERATIONS
<TABLE>
<CAPTION>
Unaudited Audited
--------- -------
- -
Three months ended Nine months ended For the Period
Nov 10, 1998
September 30 September 30, (Inception) to
1999 1998 1999 1998 June 30, 1999
------- ------ -------- ------- -------------
- ---
<S> <C> <C> <C> <C> <C>
INCOME:
Revenue $ 0 $ 0 $ 0 $ 0 $ 0
COSTS AND EXPENSES
Selling, General
and Administrative 740 0 3,280 0 2,540
Amortization of
Organization Costs 15 0 45 0 35
------- ------ ------- ----- --------
Total Costs and
Expenses 755 0 3,325 0 2,575
------- ------ ------- ----- --------
Net Ordinary Income
or (Loss) (755) 0 (3,325) 0 (2,575)
======= ====== ======= ===== ========
Weighted average
number of common
shares outstanding 2,106,000 0 2,106,000 0 2,106,000
Net Loss
Per Share 0.00 0 0.00 0 0.00
</TABLE>
See accompanying notes to financial statements
6
<PAGE>
ALD Services, Inc.
(A Development Stage Company)
STATEMENT OF CASH FLOWS
Unaudited
<TABLE>
<CAPTION>
STATEMENT OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998
Unaudited
For the Period
Nov 10, 1998
For Nine Months Ended (Inception) to
Sept 30, 1999 Sept 30, 1998 Sept 30, 1999
--------------------------------------------------
<S> <C> <C> <C>
CASH FLOWS FROM
OPERATING ACTIVITIES
Cash received
from customers $ 0.00 $ 0.00 $ 0.00
----------- -------- ------------
Net Cash provided
by Operating Activities
Cash disbursed for
Operating Activities 3,055.00 0.00 3,055.00
----------- -------- ------------
Net Cash flow provided
by Operating Activities (3,055.00) 0.00 (3,055.00)
CASH FLOWS FROM
INVESTING ACTIVITIES
Purchase of land 10,000.00 0.00 10,000.00
------------- -------- -----------
Net Cash used by investing
Activities (10,000.00) 0.00 (10,000.00)
CASH FLOWS FROM
FINANCING ACTIVITIES
Issuance of Capital Stock 2,905.00 0.00 2,905.00
Advances from Shareholders 10,150.00 0.00 10,150.00
------------- ------- -----------
Net cash provided by
Financing Activities 13,055.00 0.00 13,055.00
Net increase (decrease)
in cash 0.00 0.00 0.00
Balance as at end
of period 0.00 0.00 0.00
</TABLE>
See accompanying notes to financial statements.
7
<PAGE>
ALD Services, Inc.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
September 30, 1999
NOTE 1 - HISTORY AND ORGANIZATION OF THE COMPANY
The Company was organized November 10, 1998 under the laws of the
State of Nevada, ALD Services, Inc. The Company has no operations and in
accordance with SFAS #7, the Company is considered a development stage
company.
On November 12, 1998, the company issued 1,900,000 Shares of its
$0.001 par value common stock for cash of $100.00 and the cancellation of
$2,000.00 of debt.
On April 2, 1999, the company issued 206,000 Shares of its $.001 par
value common stock for cash of $905.00 and services rendered in the
amount of $125.00, pursuant to Regulation D, Rule 504.
On June 30, 1999, the Company split its common stock 20 shares for 1
share. This change is reflected in the shares issued on November 12,
1998 and April 2, 1999.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Method
The Company records income and expenses on the accrual method.
Basis of Presentation
The accompanying unaudited financial statements have been prepared in
accordance with generally accepted accounting principles for interim
information and footnotes required by generally accepted accounting
principles for complete financial statements. In the opinion of management
all adjustments (consisting of normal recurring accruals) considered
necessary for a fair presentation have been included. Operating results
for the third Quarter ended September 30, 1999, and nine months ended
September 30, 1999 are not necessarily indicative of the results that may be
expected for the year ended December 31, 1999. For further information, refer
to the audited financial statements and the footnotes thereto included in the
company's report on Form 10SB12G for period ended June 30, 1999.
The balance sheet at June 30, 1999, has been derived from the audited
financial statements at that date but does not include all of the
information and footnotes required by generally accepted accounting
principles for complete financial statements.
Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenue and expenses during the
reporting period. Actual results could differ from those estimates.
Cash and equivalents
The Company maintains a cash balance in a non-interest-bearing bank that
currently does not exceed federally insured limits. For the purpose of
the statements of cash flows, all highly liquid investments with the maturity
of three months or less are considered to be cash equivalents. There are no
cash equivalents as of September 30, 1999.
Loss Per Share
Net loss per share is provided in accordance with Statement of Financial
Accounting Standards No. 128 (SFAS #128) "Earnings Per Share". Basic loss
per share is computed by dividing losses available to common stockholders
by the weighted average number of common shares outstanding during the
period. Diluted loss per share reflects per share amounts that would
have resulted if dilative common stock equivalents had been converted to
common stock. As of September 30, 1999, the Company had no dilative common
stock equivalents such as stock options.
Year End
The Company has selected December 31st as its year-end.
8
<PAGE>
ALD Services, Inc.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
September 30, 1999
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Accounting policies and procedures have not been determined except as
follows:
1. The Company uses the accrual method of accounting.
2. The cost of organization, $295.00, is being amortized over a
period of 60 months (November 1998 through October 2003).
3. Earnings per share is computed using the weighted average
number of shares of common stock outstanding.
4. The Company has not yet adopted any policy regarding payment of
dividends. No dividends have been paid since inception.
5. The cost of equipment is depreciated over the estimated useful
life of the equipment utilizing the straight line method of
depreciation.
6. The Company experienced losses for its first fiscal tax year.
The Company will review its need for a provision for federal income
tax after each operating quarter and each period for which a
statement of operation is issued.
NOTE 3 - GOING CONCERN
The Company's financial statements are prepared using the generally
accepted accounting principles applicable to a going concern, which
contemplates the realization of assets and liquidation of liabilities in
the normal course of business. However, the Company has not commenced
its planned principal operations. Without the realization of additional
capital, it would be unlikely for the Company to continue as a going
concern. It is management's plan to seek additional capital through a
private offering of its securities once it gets listed on the NQB's "Pink
Sheets" or the OTC-BB.
9
<PAGE>
ALD Services, Inc.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1999
NOTE 4 - RELATED PARTY TRANSACTION
The officers and directors of the Company are involved in other business
activities and may, in the future, become involved in other business
opportunities. If a specific business opportunity becomes available,
such persons may face a conflict in selecting between the Company and their
other business interests. The Company has not formulated a policy for
the resolution of such conflicts.
NOTE 5 - WARRANTS AND OPTIONS
There are no warrants or options outstanding to acquire any
Additional shares of common stock.
10
<PAGE>
ALD Services, Inc.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
September 30, 1999
NOTE 5 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Year 2000 Disclosure
Computer programs that have time sensitive software may recognize a
date using "00" as the year 1900 rather than the year 2000. This
could result in a system failure or miscalculations causing
disruption of normal business activities.
Based on a recent and ongoing assessment, the Company has determined
that any purchased software will be off-the-shelf software and will
be certified Year 2000 compatible for all of its computing requirements.
The Company presently believes that with modifications to existing
off-the-shelf software or conversions to new software, the Year 2000
issue will not pose significant operational problems and will not
materially affect future financial results.
The Company currently anticipates purchasing new off-the-shelf Year
2000 compatible software in the near future, which is prior to any
anticipated impact on its operating systems. The total cost of this
new software is not anticipated to be a material expense to the
Company at this time. However, there can be no guarantee that these
new off-the-shelf software products will be adequately modified
which could have a material adverse effect on the Company's results
of operations.
11
<PAGE>
ALD Services, Inc.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
September 30, 1999
NOTE 6 - STOCKHOLDERS' EQUITY
Common Stock
The authorized common stock of the corporation consists of 25,000,000
shares with a par value of $0.001 per share.
Preferred Stock
The Company has no authorized preferred stock.
On November 12, 1998, one (1) founding shareholder purchased
ninety thousand (90,000) shares of the Company's authorized treasury
stock for cash. This original stock offering was made pursuant to
Section 4(2) of the Securities Act of 1933, as amended.
In April of 1999, the Company completed a public offering of
shares of common stock of the Company pursuant to Regulation D, Rule
504 of the Securities Act of 1933, as amended, whereby it sold
10,300 shares of the Common Stock of the Company to 32 unaffiliated
shareholders of record. The Company filed an original Form D with
the Securities and Exchange Commission on or about April 5, 1999.
On June 9, 1999, the Board of Directors of the Company approved a
plan to split forward the shares of common stock of Company by a 20
to 1 ratio. As of July 29, 1999, the Company has 2,106,000 shares
of common stock issued and outstanding held by 32 shareholders of
record.
12
<PAGE>
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATIONS
ALD Services, Inc. is a developmental stage consulting company with a
principal business objective to integrate the spectrum of processes
within the logistics, supply, transportation, contracting, financial
management, and manpower management environments. ALD seeks to
provide reputable consultations, recommendations for improvements,
and if so desired, flow-systems for improved decision making and
implementation.
The Company believes that the founders and promoters of primarily
new, development stage companies have unrealistic expectations
regarding initial capital formation and organizational issues. As
such, the Company will seek to provide guidance in regards to the
client company's business, organizational, and financial status.
The Company seeks to provide guidance in functional areas such as
logistics, supply, transportation, contracting, financial and
manpower management. The Company intends to establish these
functional areas to assist client companies in developing and
implementing the procedures necessary to operate effectively.
The Company faces risks which include, but are not limited to, an
evolving and unpredictable business model, dependence on the growth
in use of services such as the Company provides, the acceptance of
the Company's services, the ability to obtain information about
developments in business consulting, rapid technological change and
the management of growth. There can be no assurance that the
Company will be successful in addressing such risks, and the failure
to do so could have a material adverse effect on the Company's
business, prospects, financial condition and results of operations.
(2) Distribution Methods of the Products or Services
The Company plans to initially focus its efforts on seeking
clients that are development stage companies that need assistance and
guidance on initial corporate valuation and organizational issues.
The Company's founders and principals believe that the founders and
promoters of primarily new, development stage companies have
unrealistic expectations regarding initial capital formation and
organizational issues. As such, the Company will seek to add value
for its clients by creating research or other report that
appropriately values and/or provides guidance to them in regards to
the client company's business, organizational, and financial status.
This, in the Company's opinion, will enable its client companies to
have a higher success ratio in commencing and implementing their
business objectives. However, the Company is in its developmental
stages, and as such, there can be no assurance that the Company's
services will be accepted and adopted by potential customers.
Going Concern - The Company experienced operating losses for the
period ended September 30, 1999. The financial statements have been
prepared assuming the Company will continue to operate as a going
concern which contemplates the realization of assets and the
settlement of liabilities in the normal course of business. No
adjustment has been made to the recorded amount of assets or the
recorded amount or classification of liabilities which would be
required if the Company were unable to continue its operations. As
discussed in Note 3, of the notes to the financial statements,
management believes it has enough funds to operate for the next six
(6) months without the need to raise additional capital to meet its
obligations in the normal course of business.
Unclassified Balance Sheet - In accordance with the provisions of
SFAS No. 53, the Company has elected to present an unclassified
balance sheet.
13
<PAGE>
Loss Per Share - The Company adopted the provisions of Statement of
Financial Accounting Standards ("SFAS") No. 128, "Earnings Per Share"
that established standards for the computation, presentation and
disclosure of earnings per share ("EPS"), replacing the presentation
of Primary EPS with a presentation of Basic EPS. It also requires
dual presentation of Basic EPS and Diluted EPS on the face of the
income statement for entities with complex capital structures. The
Company did not present Diluted EPS since it has a simple capital
structure.
The Company has not pursued or explored any opportunities for an
acquisition or merger. This does not preclude that the Company may
not explore any opportunities in the future.
Results of Operations
As of September 30, 1999, the Company has yet to generate any
revenues. In its initial approximately ten (10) months operating
period ended September 30, 1999, the Company incurred a net loss of
$3,280 for selling, general and administrative expenses related to
start-up operations. It has yet to receive any revenues from
operations.
In its most recent three month operating period ended September 30,
1999, the Company incurred a net loss of approximately $740.00. For the
most recent nine month operating period ended September 30, 1999, the
Company incurred a net loss of approximately $3,280.00. It has yet to
receive any revenues from operations. During the period July 1, 1999
through September 30, 1999, the Company had a loss of $740.00. This
nominal loss is in line with company expectations, since it has yet to
generate any revenues.
Plan of Operation
This is a development stage company. The Company believes that its
initial revenues will be primarily dependent upon the Company's
ability to cost-effectively and efficiently provide personalized
business consulting services to companies seeking assistance and
guidance on corporate valuation, recommendations for improvements,
cost-cutting opportunities and organizational issues. The Company
designates as its priorities for the first twelve (12) months of
operations as developing and marketing its services to establish its
operations in the business services market. Realization of sales of
the Company's products, services and/or technology during the fiscal
year ending December 31, 1999 is vital to its plan of operations.
There can be no assurance that the Company will be able to compete
successfully or that the competitive pressures the Company may face
will not have a material adverse effect on the Company's business,
results of operations and financial condition. Additionally, a
superior competitive technology, service or product could force the
Company out of business.
As of September 30, 1999, the Company has yet to generate any
revenues. In addition, the management does expect to generate any
revenues for the next six (6)months.
14
<PAGE>
Liquidity and Capital Resources
The Company's primary sources of liquidity since its inception have
been the sale of shares of common stock from shareholders, which were
used during the period from inception through June 30, 1999. On
November 12,1998, one (1) founding shareholder purchased 90,000
shares of the Company's authorized treasury stock for cash. This
original stock offering was made pursuant to Section 4(2) of the
Securities Act of 1933, as amended. Additionally, on April 2, 1999,
the Company completed an offering of ten thousand three hundred
(10,300) shares of the Common Stock of the Company to approximately
thirty-two (32) unaffiliated shareholders. This offering was made in
reliance upon an exemption from the registration provisions of
Section 4(2) of the Securities Act of 1993, as amended, pursuant to
Regulation D, Rule 504 of the Act. On June 30, 1999, the Company
effectuated a twenty for one (20:1) forward stock split. This change
is reflected in the shares issued on November 12, 1998 and April 2,
1999. As of the date of this filing, the Company has two million one
hundred six thousand (2,106,000) shares of its $0.001 par value
common voting stock issued and outstanding which are held by
approximately thirty two (32) shareholders of record. The Company
currently has no arrangements or commitments for accounts and
accounts receivable financing. There can be no assurance that any
such financing can be obtained or, if obtained, that it will be on
reasonable terms. Management fully anticipates that the proceeds
from the sale of all of the Common Shares sold in the offering
delineated above will be sufficient to provide the Company's capital
needs for the next approximately six (6) months. At that time, the
Company will need additional working capital to finance its planned
activity.
This is a developmental stage company. The Company believes that its
initial revenues will be primarily dependent upon the Company's
ability to cost-effectively and efficiently provide personalized
business consulting services to companies seeking assistance and
guidance on corporate valuation, recommendations for improvements,
cost-cutting opportunities and organizational issues. The Company
designates as its priorities for the first twelve (12) months of
operations as developing and marketing its services to establish its
operations in the business services market. Realization of sales of
the Company's products, services and/or technology during the fiscal
year ending December 31, 1999 is vital to its plan of operations.
There can be no assurance that the Company will be able to compete
successfully or that the competitive pressures the Company may face
will not have a material adverse effect on the Company's business,
results of operations and financial condition. Additionally, a
superior competitive technology, service or product could force the
Company out of business.
As of September 30, 1999, the Company has yet to generate any
revenues. In addition, the Company may not generate revenues for the
next six (6) months.
The Company currently has one (1) employee who is the sole officer
and director of the Company. This employee has received no compensation
through September 30, 1999. The Company does not plan to hire any additional
employees until it it can start generating revenues.
The Company has no material commitments for capital expenditures nor
does it foresee the need for such expenditures over the next year.
15
<PAGE>
Dividend Policy
The Company has never paid or declared any dividend on its Common
Stock and does not anticipate paying cash dividends in the foreseeable future.
Forward-Looking Statements
This Form 10-QSB includes "forward-looking statements" within the
Meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All statements, other
than statements of historical facts, included or incorporated by reference
in this Form 10-QSB which address activities, events or developments which
the Company expects or anticipates will or may occur in the future, including
such things as future capital expenditures (including the amount and nature
thereof), finding suitable merger or acquisition candidates, expansion and
growth of the Company's business and operations, and other such matters are
forward-looking statements. These statements are based on certain assumptions
and analyses made by the Company in light of its experience and its perception
of historical trends, current conditions and expected future developments as
well as other factors it believes are appropriate in the circumstances.
However, whether actual results or developments will conform with the Company's
expectations and predictions is subject to a number of risks and uncertainties,
general economic market and business conditions; the business opportunities
(or lack thereof) that may be presented to and pursued by the Company; changes
in laws or regulation; and other factors, most of which are beyond the control
of the Company. Consequently, all of the forward-looking statements made in
this Form 10-QSB are qualified by these cautionary statements and there can be
no assurance that the actual results or developments anticipated by the Company
will be realized or, even if substantially realized, that they will have the
expected consequence to or effects on the Company or its business or
operations. The Company assumes no obligations to update any such forward-
looking statements.
16
<PAGE>
PART II OTHER INFORMATION
ITEM 1. Legal Proceedings
The Company is not a party to any legal proceedings.
ITEM 2. Changes in Securities and Use of Proceeds
None.
ITEM 3. Defaults upon Senior Securities
None.
ITEM 4. Submission of Matters to a Vote of Security Holders
During the quarter ended September 30, 1999, no matters were submitted to
the
Company's security holders.
ITEM 5. Other Information
None.
ITEM 6. Exhibits and Reports on Form 8-K
None.
17
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
ALD SERVICES, INC.
(Registrant)
Dated: October 25, 1999
/s/ Frank Danesi, Jr.
- --------------------------------
Frank Danesi, Jr., President and Chief
Executive Officer
18
<PAGE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
BALANCE SHEET, THE STATEMENT OF OPERATIONS, AND THE STATEMENT OF CASH
FLOWS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JUL-01-1999
<PERIOD-END> SEP-30-1999
<CASH> 0
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 10,245
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 10,245
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 2,106
<OTHER-SE> 8,139
<TOTAL-LIABILITY-AND-EQUITY> 10,245
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 740
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (740)
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (740)
<EPS-BASIC> (0.00)
<EPS-DILUTED> (0.00)
</TABLE>
